PTI Reports:
The government will hold discussions on a proposal to make the high level committee on financial and capital markets (HLCC) – an informal body comprising representatives of all financial regulators – more effective next month.
“The decision to make HLCC more effective would be deliberated on in the second half of November. The discussion is on whether formalisation of HLCC would be more effective or more bureaucratic,” an official source told PTI.
There is a consensus that HLCC needs to be more effective to tackle any problem speedily and with ease as there are many issues in the financial market that require close coordination and acting together by various regulators, the source said.
As of now, the industry has to deal with many regulators.
See the full PTI Report here
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